Hastings County gets $2.8 million for affordable housing; includes grants to help people buy homes

There’s $2.8 million for Hastings County to help people find “affordable housing” or help people buy homes.

The announcement includes $700,000 going to an already opened, 10-unit rental unit in Bancroft and $155,000 in “funding to 25 low and moderate-income households” to purchase a home.

Here’s the full press release…

County of Hastings gets $2.8 million boost for affordable housing

HASTINGS, ON, Feb. 2 /CNW/ – The Government of Canada and the Government of Ontario today announced $2.8 million in funding for affordable housing in the County of Hastings under the Canada-Ontario Affordable Housing Program.

The announcement was made by Daryl Kramp, Member of Parliament for Prince Edward-Hastings, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); and Leona Dombrowsky, MPP for Prince Edward – Hastings and Minister of Agriculture, Food and Rural Affairs, on behalf of the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said MP Kramp.

“This funding is helping the several projects the County of Hastings give low-income families and individuals with special needs hope, dignity and a path to a safer, better and stronger future.”

“Through this allocation in the County of Hastings, the McGuinty government is renewing its commitment to work with our housing partners to grow the supply of affordable housing,” said Minister Dombrowsky.

The $2.8 million allocation includes:

– A six-unit project in Trenton, now officially open. The project is sponsored by K&G Holdings, and received $420,000 under the Canada-Ontario Affordable Housing Program. The units are occupied by individuals with special needs.

– A three-unit project in Frankford, now officially opened. This project is sponsored by K&G Holdings, and received $210,000 in funding under the Canada-Ontario Affordable Housing Program. The units are occupied by low-income individuals.

– A 10-unit project in Bancroft, now officially opened. The project is sponsored by Ken Papakiriazis, and will receive $700,000 under the Canada-Ontario Affordable Housing Program. The units are occupied by individuals with special needs.

– An 18-unit project in Belleville, now under construction. The project is sponsored by Springale Development Inc., and will receive more than $1.2 million under the Canada-Ontario Affordable Housing Program. The units will be occupied by individuals with special needs.

– A two-unit project in Tweed, now under construction. The project is sponsored by Chris Zavos and Adam Zegouras of 792169 Ontario Inc., and will receive $140,000 under the Canada-Ontario Affordable Housing Program. The units will be occupied by low-income individuals. – A one-unit project in Frankford, now under construction. The project is sponsored by K&G Holdings, and will receive $70,000 under the Canada-Ontario Affordable Housing Program. The unit will be occupied by a low-income individual.

– More than $155,000 in funding to 25 low and moderate-income households in the County of Hastings under the Homeownership component of the Canada-Ontario Affordable Housing Program.

“Hastings County has been pleased to participate in the Canada-Ontario Affordable Housing Program. This partnership has improved the lives of County residents through the creation of new affordable rental housing and has made home ownership possible for several families,” said Hastings’ Warden Ron Emond.

“It is important to note that Hastings County is prepared to take advantage of any upcoming federal/provincial stimulus package that is directed at building or acquiring more affordable housing. The need for affordable housing continues to out strip the availability.”

The Canada – Ontario Affordable Housing Program comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario.

Under the AHP, every region in Ontario has been allocated a specific amount of funding to assist low to moderate-income rental households to purchase affordable homes through interest-free down-payment assistance loans.